MongoDB (NASDAQ:MDB) Price Target Increased to $484.00 by Analysts at Argus

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MongoDB (NASDAQ:MDB) Price Target Increased to $484.00 by Analysts at Argus

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MongoDB (NASDAQ:MDB – Free Report) had its price objective boosted by Argus from $435.00 to $484.00 in a report published on Tuesday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also weighed in on MDB. Needham & Company LLC raised their price objective on shares of MongoDB from $430.00 to $445.00 and gave the company a buy rating in a research report on Friday, September 1st. Barclays raised their target price on MongoDB from $421.00 to $450.00 and gave the company an overweight rating in a report on Friday, September 1st. VNET Group restated a maintains rating on shares of MongoDB in a report on Monday, June 26th. Tigress Financial lifted their price target on shares of MongoDB from $365.00 to $490.00 in a research report on Wednesday, June 28th. Finally, Stifel Nicolaus lifted their price target on shares of MongoDB from $420.00 to $450.00 and gave the company a buy rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $418.08.

Check Out Our Latest Stock Analysis on MDB

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $394.13 on Tuesday. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 1.44. MongoDB has a 1 year low of $135.15 and a 1 year high of $439.00. The business has a fifty day simple moving average of $390.36 and a 200 day simple moving average of $307.62. The firm has a market cap of $27.82 billion, a price-to-earnings ratio of -113.91 and a beta of 1.11.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $420.00, for a total value of $420,000.00. Following the sale, the director now owns 1,213,159 shares in the company, valued at approximately $509,526,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $420.00, for a total transaction of $420,000.00. Following the sale, the director now owns 1,213,159 shares in the company, valued at $509,526,780. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hope F. Cochran sold 2,174 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $373.19, for a total value of $811,315.06. Following the sale, the director now owns 8,200 shares in the company, valued at approximately $3,060,158. The disclosure for this sale can be found here. Insiders sold 76,551 shares of company stock worth $31,143,942 in the last 90 days. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its holdings in shares of MongoDB by 32.0% during the 1st quarter. Raymond James & Associates now owns 4,922 shares of the company’s stock valued at $2,183,000 after purchasing an additional 1,192 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of MongoDB by 19.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,282 shares of the company’s stock valued at $569,000 after purchasing an additional 206 shares during the period. MetLife Investment Management LLC acquired a new position in MongoDB during the first quarter worth approximately $1,823,000. Panagora Asset Management Inc. raised its stake in MongoDB by 9.8% in the first quarter. Panagora Asset Management Inc. now owns 1,977 shares of the company’s stock valued at $877,000 after buying an additional 176 shares during the period. Finally, Vontobel Holding Ltd. raised its position in shares of MongoDB by 100.3% in the first quarter. Vontobel Holding Ltd. now owns 2,873 shares of the company’s stock valued at $1,236,000 after purchasing an additional 1,439 shares during the period. Institutional investors own 88.89% of the company’s stock.

About MongoDB

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MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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